Detailed Single Year Tables

Description of Proposed Provision:
After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20). We assume the NRA will increase 1 month every 2 years. Also, increase the earliest eligibility age (EEA) by the same amount as the NRA starting for those age 62 in 2022 so as to maintain a 5 year difference between the two ages. Include a hardship exemption with no EEA/NRA change for a worker with 25 years of earnings (with 4 quarters of coverage each), and average indexed monthly earnings (AIME) less than 250 percent of the poverty level (wage-indexed from 2012). The hardship exemption is phased out for those with AIME above 400 percent of the poverty level.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2013

13.95

12.69

-1.26

330

0.00

0.00

0.00

2014

14.04

12.83

-1.20

315

0.00

0.00

0.00

2015

13.97

12.86

-1.10

301

0.00

0.00

0.00

2016

13.91

12.88

-1.03

286

0.00

0.00

0.00

2017

13.88

12.90

-0.98

271

0.00

0.00

0.00

2018

13.91

12.93

-0.98

257

0.00

0.00

0.00

2019

14.06

12.95

-1.11

244

0.00

0.00

0.00

2020

14.26

12.97

-1.29

231

0.00

0.00

0.00

2021

14.44

12.99

-1.45

218

0.00

0.00

0.00

2022

14.70

13.03

-1.68

204

0.00

0.00

0.00

2023

14.96

13.04

-1.92

189

-0.01

0.00

0.01

2024

15.22

13.06

-2.16

174

-0.01

0.00

0.01

2025

15.46

13.07

-2.39

158

-0.02

0.00

0.02

2026

15.69

13.09

-2.60

142

-0.02

0.00

0.02

2027

15.90

13.10

-2.80

125

-0.03

0.00

0.03

2028

16.10

13.11

-2.99

109

-0.03

0.00

0.04

2029

16.28

13.12

-3.16

91

-0.04

0.00

0.04

2030

16.45

13.13

-3.31

72

-0.05

0.00

0.05

2031

16.57

13.14

-3.42

53

-0.06

0.00

0.07

2032

16.67

13.15

-3.52

33

-0.08

0.00

0.08

2033

16.76

13.16

-3.60

13

-0.10

0.00

0.10

2034

16.82

13.16

-3.66

----

-0.11

0.00

0.12

2035

16.85

13.17

-3.68

----

-0.13

0.00

0.13

2036

16.86

13.17

-3.69

----

-0.15

0.00

0.15

2037

16.86

13.17

-3.69

----

-0.16

0.00

0.16

2038

16.84

13.17

-3.66

----

-0.18

0.00

0.18

2039

16.79

13.17

-3.62

----

-0.20

0.00

0.20

2040

16.75

13.17

-3.58

----

-0.21

0.00

0.21

2041

16.70

13.17

-3.53

----

-0.23

0.00

0.23

2042

16.65

13.17

-3.48

----

-0.25

0.00

0.25

2043

16.60

13.17

-3.43

----

-0.26

0.00

0.27

2044

16.56

13.17

-3.39

----

-0.28

0.00

0.28

2045

16.52

13.17

-3.35

----

-0.30

0.00

0.31

2046

16.49

13.17

-3.32

----

-0.32

0.00

0.33

2047

16.46

13.17

-3.29

----

-0.35

0.00

0.35

2048

16.42

13.17

-3.25

----

-0.37

0.00

0.37

2049

16.39

13.17

-3.22

----

-0.39

0.00

0.39

2050

16.37

13.17

-3.20

----

-0.42

0.00

0.42

2051

16.35

13.17

-3.17

----

-0.44

0.00

0.45

2052

16.34

13.17

-3.17

----

-0.47

0.00

0.47

2053

16.34

13.18

-3.17

----

-0.49

0.00

0.49

2054

16.35

13.18

-3.17

----

-0.52

0.00

0.52

2055

16.37

13.18

-3.19

----

-0.54

0.00

0.54

2056

16.40

13.18

-3.22

----

-0.55

0.00

0.56

2057

16.43

13.19

-3.24

----

-0.57

0.00

0.57

2058

16.46

13.19

-3.27

----

-0.59

0.00

0.59

2059

16.48

13.19

-3.29

----

-0.61

0.00

0.61

2060

16.51

13.20

-3.31

----

-0.63

0.00

0.63

2061

16.53

13.20

-3.33

----

-0.65

0.00

0.65

2062

16.55

13.20

-3.35

----

-0.68

0.00

0.68

2063

16.57

13.20

-3.37

----

-0.70

0.00

0.70

2064

16.59

13.21

-3.39

----

-0.72

0.00

0.72

2065

16.61

13.21

-3.41

----

-0.74

0.00

0.74

2066

16.64

13.21

-3.43

----

-0.77

0.00

0.77

2067

16.66

13.21

-3.45

----

-0.79

0.00

0.79

2068

16.68

13.22

-3.47

----

-0.81

0.00

0.81

2069

16.71

13.22

-3.49

----

-0.83

0.00

0.83

2070

16.73

13.22

-3.51

----

-0.86

0.00

0.86

2071

16.75

13.22

-3.52

----

-0.88

0.00

0.88

2072

16.76

13.23

-3.53

----

-0.90

0.00

0.90

2073

16.76

13.23

-3.53

----

-0.92

0.00

0.92

2074

16.76

13.23

-3.53

----

-0.95

0.00

0.95

2075

16.75

13.23

-3.52

----

-0.97

0.00

0.97

2076

16.75

13.23

-3.52

----

-0.99

0.00

0.98

2077

16.73

13.23

-3.50

----

-1.01

0.00

1.00

2078

16.71

13.23

-3.48

----

-1.03

0.00

1.03

2079

16.68

13.23

-3.46

----

-1.06

0.00

1.06

2080

16.67

13.23

-3.44

----

-1.09

0.00

1.09

2081

16.64

13.23

-3.41

----

-1.14

0.00

1.14

2082

16.63

13.23

-3.40

----

-1.17

0.00

1.17

2083

16.64

13.24

-3.40

----

-1.19

0.00

1.20

2084

16.66

13.24

-3.42

----

-1.21

0.00

1.21

2085

16.69

13.24

-3.45

----

-1.22

0.00

1.22

2086

16.72

13.24

-3.47

----

-1.25

0.00

1.25

2087

16.74

13.25

-3.50

----

-1.27

0.00

1.27

2088

16.76

13.25

-3.52

----

-1.30

0.00

1.30

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2013 Trustees Report.

2013-2087

16.20%

13.88%

-2.32%

2033

-0.39%

0.00%

0.39%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.